Catherine McGuinness has called on politicians to act in the national interest as Theresa May stalled on announcing the date of the next meaningful vote on Brexit.
The Prime Minister told Parliament that MPs would be given a final say on her deal – but only after she had attempted to secure alterations to the Irish backstop clause.
EU chiefs have publicly stated that no such changes can be made to the existing agreement.
The City Corporation’s policy chair said the country needed clarity with just 45 days between now on 29 March, the date when Britain is set to exit the EU.
Ms McGuinness said: “The last grains of sand are slipping through the hour glass as another day is lost in Brexit limbo. Businesses and households continue to face uncertainty about whether the UK will crash out of the EU without a deal at the end of March.
“Politicians may be used to striking deals at the eleventh hour but businesses cannot afford to wait until then. City firms need certainty about our future relationship with the EU in order to invest and create jobs across the UK. Locking in a legally binding transition period as part of a deal is vital to give the sector time to work through this complex process.
“It is welcome that the Prime Minister identified a number of areas on which Parliament can come together. We now need to see some progress being made in the national interest.”